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Economic Development Manager Sullivan presented the staff report. <br />Member Lindahl asked if the project could tap into the funds put back into the redevelopment area <br />for phase two. <br /> <br />Economic Development Manager Sullivan confirmed that the funds put back into the <br />redevelopment area could be used for any project in that area. He reviewed other potential uses <br />for the funds, such as infrastructure needs related to development or redevelopment. <br /> <br />Chairperson Wiyninger asked for input from the members of the City Council as to the discussion <br />that occurred at the work session meeting. <br /> <br />Member Riley stated that it has been an arduous task as there are lots of moving parts to this <br />project. He commented that the Council and community have been very supportive of the project, <br />which is why it continues to move forward. He stated that banks and financing have changed <br />throughout this process and, in theory, it appears that the payments can be made fine by the <br />organization. He commented that in the worst-case scenario, PSD would step in, assume the <br />mortgage, and the City would forgive its HRA Loan funding. He believed that this project would <br />be much better than what had originally been proposed in the previous location and commented <br />that this will be a great facility for kids and families. He noted that there will also be ancillary <br />development around the facility that has been desired by the community. <br />Member Hills referenced the case of a default and asked whether that would be a total loss to the <br />City. <br />Economic Development Manager Sullivan explained how these funds have accumulated in the <br />ACHRA fund and how they can be used. He commented that these are not General Fund dollars <br />and if there was a default, it would be similar to a grant and the City would not have to repay funds <br />back into the fund. <br /> <br />Motion by Member Hills, seconded by Member Bauer, to adopt Resolution #26-178 Approving <br />Redevelopment Project Area and Plan as presented. <br /> <br />Motion carried. Voting Yes: Chairperson Wiyninger, Members Hills, Bauer, Lindahl, Riley, and <br />Stewart. Voting No: None. Absent: Member Johnson. <br /> <br />4.02: Consider Recommendation for Approval of 2027 EDA Budget <br /> <br />Economic Development Manager Sullivan presented the staff report. <br /> <br />Chairperson Wiyninger commended staff for keeping the budget flat, which is tough to do. <br /> <br />Motion by Member Bauer, seconded by Member Lindahl, to recommend to City Council adoption <br />of the proposed 2027 EDA Budget and Levy as presented. <br /> <br />EconomicDevelopment Authority/August 13, 2026 <br />Page 2 of 3 <br /> <br />